Monday market session sees stable Zambian Kwacha on the back of increased demand for dollar

The Zambian kwacha maintained stability in Monday’s market session, despite a slight dip compared to its previous close.

This movement was attributed to a surge in demand for the US dollar amid limited inflows, according to Absa Bank’s daily market report.

The session opened with the kwacha trading at K27.800/27.850 on the bid-offer, holding steady throughout the day.

“The coming days are likely to see the kwacha respond to foreign exchange inflows compared to the prevailing demand,” the report noted.

Additionally, Access Bank’s daily market report highlighted a decline in copper prices following US President Donald Trump’s announcement of plans to impose import tariffs on metals such as copper, aluminium, and steel.

The move has raised concerns over potential trade wars and bolstered the US dollar.

Trump also hinted at expanding tariffs to include computer chips and pharmaceuticals to stimulate domestic manufacturing.

Treasury Secretary Scott Bessent reportedly supports the initiation of universal tariffs at 2.5 percent, with potential increases over time.

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